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Home My WebLink About1991-04-10 Resolution 40~ ~~`° i• RESOLUTION NO. 40 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY APPROVING THE EXECUTION OF A SECOND ADDENDUM TO THE LEASE FOR THE SOUTH BEND CENTRAL DEVELOPMENT AREA PUBLIC IMPROVEMENT PROJECT WHEREAS, the South Bend Redevelopment Authority (the "Authority") previously entered into a lease between the Authority and the South Bend Redevelopment Commission (the "Commission") dated as of November 1, 1989, as amended by an addendum dated April 6, 1990 (the lease and the addendum collectively referred to herein as the "Lease"), pursuant to which the Authority will lease certain land and public improvements (the "Project") to the Commission; and • WHEREAS, the Authority desires to approve and execute a second addendum to the Lease (the "Second Addendum"), a copy of which is attached hereto as Exhibit "A", reflecting a change in the commencement date of the Lease; NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT AUTHORITY, AS FOLLOWS: 1. The Lease shall be amended to change the commencement date of the Lease as set forth in Exhibit "A" hereto. 2. All remaining terms, covenants and conditions as set forth in the Lease shall remain in full force and effect. 3. The President and Secretary-Treasurer of the Authority are hereby authorized and directed to execute and attest, respectively, the Second Addendum attached hereto as Exhibit "A". • .~~ - . ~ , 4. This resolution shall be in full force and effect after its adoption by the Authority. ADOPTED at a meeting of the South Bend Redevelopment Authority held on , 1991, at the office of the J Authority, 1200 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. SOUTH BEND REDEVELOPMENT AUTHORITY By : `r°' sep Wroblewski, President AT EST: Donald Fewell, Secretary-Treasurer \tapitman\bonds\sbhouse\adlease.2;04/08/91 -2- .~ - . _. r ._,, ~~ ~~ -- ~-~_ ~ , ~ ~ . ~~,, r~~ ~~~~. e~~~ ~ ~ ~ v. o ~~ .~ ~ ~ ~_ ~ ~~'' ~' _ ~ '~~ t= SECON D ADDENDUM TO LEASE , ., : + _.- °~ ~__ ~ ~. :~ SOUTH BEND REDEVELOPMENT AUTHORITY "' "'"" " ~ `; ~~~ ~ SOUTH BEND REDEVELOPMENT COMMISSION , ', "' ~ "~" (South Bend Central Development Area :`~" .. ~ ~ Public Improvement Project) ~ '_-° THIS SECOND ADDENDUM, made and entered into this lZ~day of (~ ~uti~~C 1991, by and between the South Bend Redevelopment Authority, a body corporate and politic organized and existing under Indiana Code 36-7-14.5 (hereinafter with its successors and assigns referred to as the "Authority"), and the South Bend Redevelopment Commission, the governing body of the South Bend Department of Redevelopment and the Redevelopment District of South Bend, Indiana (hereinafter called the "Lessee"), WITNESSETH: ~~~~~ .~ In consideration of the mutual covenan~~~ t herein contained it is agreed .that the Lease (South Bend Central Development Area Public Improvement Project) previously entered into .between said parties as of the first day of November, 1989, as amended by an addendum dated April 6, 1990, shall be further amended as follows: 1. Section 2 of the Lease is amended to read as follows: Section 2. Lease of Project. In consideration of the rentals and other terms and conditions herein specified the Authority does hereby lease, demise and let to the Lessee the Project: TO HAVE AND TO HOLD the same with all rights, privileges, easements and appurtenances thereunto belonging, unto the Lessee for a term beginning on the date of execution of this Lease, and ending on the day prior to the date which is twenty-two (22) years after the date the Project is complete and ready for use. However, the term of this Lease shall terminate at the • earlier of (a) the exercise of the option to purchase by Lessee and payment of the option price, or (b) the payment or defeasance of all obligations of Lessor incurred (i) to finance the cost of the leased property, (ii) to refund such obligations, (iii) to refund such refunding obligations, or (iv) to improve the leased property. The date the Project is complete and ready for use shall be endorsed on this Lease at the end hereof by the. parties hereto as soon as the same can be done after such completion and such endorsement shall be recorded as an addendum to this Lease. The Authority hereby represents that it is possessed of, or will acquire, a good and indefeasible estate in fee simple or an insurable right=of-way easement subject only to Permitted Encumbrances, to the above-described real estate, and the Authority warrants and will defend the same against all claims whatsoever not suffered or caused by the acts or omissions of the Lessee. 2. The parties hereto acknowledge that all remaining terms, covenants and conditions as set forth in the Lease between the parties hereto and executed as of the first day of November, 1989, as amended on April 6, 1990, shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have caused this Second Addendum to Lease to be executed for and on their behalf on the day and year first hereinabove written. SOUTH BEND REDEVELOPMENT AUTHORITY By ~ ~~ Jo eph roblewski, President ATTE T: Donald Fewell, Secretary-Treasurer \tapitman\bonds\sbhouse\addendum.lea;04/08/91 -2- ATTEST : j-~L~ Michael Donoho, Secretary \tapitman\bonds\sbhouse\addendum.lea;04/08/91 SOUTH BEND REDEVELOPMENT COMMISSION ~i ~-, Paula N. Auburn, President -3- STATE OF INDIANA ) _ ) ss: COUNTY OF Jf', ,/csc~l ) Before me, the undersigned, a Notary Public in and for said .State, personally appeared Joseph Wroblewski and Donald Fewell, personally known by me to be the President and Secretary- Treasurer, respectively, of the South. Bend Redevelopment Authority, and acknowledged the execution of the foregoing Second Addendum to Lease for and on behalf of said Authority. WITNESS my hand and ,-~ ~ ~ , 19 91. .. 4 t`~ ~. ~,`fi ~ ~ '..~. x ,~ 3 y q- !f ,,.. ''=P,~~~ omf~hkssion expires _.:k,.. I am a resident of :5,~~ ~~-' G`, County, Indiana. Notarial. Seal this / 7. ~`Zt day of ~` CiCi'Y. C ''' ~ ~ //LG. (Writtg~n Signatu •e) (Printed Signature) • \tapitman\bonds\sbhouse\addendum.lea;04/08/91 -4- • STATE OF INDIANA j _ ss: COUNTY OF S f J t~ e~ ! ) • • Before me, the undersigned, a Notary Public in and for said State, personally appeared Paula N. Auburn and Michael Donoho, personally known by me to be the President and Secretary, respectively, of the South Bend Redevelopment Commission, and acknowledged the execution of the foregoing Second Addendum to Lease for and on behalf of said Commission. WITNESS my hand and Notarial Seal this /z1`~ day of ~ t,~~ , 1991. ,:,~,,,, ~ .. f, ' ' ~.; f ... ~, :~ ~~"~~~ ' s's'~.on expires: ~~ . o. ~iu~i.. I am a resident of S~. ` ~-. ~~ County, Indiana. '~ (Writt Signatu e (Printed Signature) This instrument was prepared by Thomas A. Pitman, Baker & Daniels, 300 North Meridian Street, Indianapolis, Indiana 46204 \tapitman\bonds\sbhouse\addendum.lea;04/08/91 -5-